Utility and UCO announce partnership

Utility One Source today announced a partnership with UCO Equipment (UCO), a provider of specialty equipment and services to the utility, power, and oil and gas sectors.

Based in Cabot, Arkansas, UCO will continue to be a family-owned and operated business. UCO’s existing management team, led by Rhonda and Jim Usery, will continue to lead and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and aftermarket services, remanufacturing, customised equipment and transportation nationwide.

“We are pleased to welcome UCO’s management team and its highly-skilled and dedicated employees to the Utility One Source family,” said Utility One Source Chairman Chris Ragot. “UCO is a great fit with our growth strategy and we are excited to expand our geographic footprint in both Arkansas and the greater Houston area as well as to increase our product offerings. We look forward to working with UCO in the years ahead, as we continue to grow to become the largest supplier in the utility and heavy equipment industries.”

UCO’s President and Chief Executive Officer, Rhonda Usery said, “UCO is very excited to join UOS. We look forward to using our unique track-based equipment experience to grow Utility One Source, and to better serve our customers nationwide.”

UCO represents the first acquisition by Utility One Source since its formation in February 2015 and demonstrates its commitment to a national infrastructure and breadth of product offerings. Funds managed by Blackstone will continue to provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/28042015/utility-and-uco-announce-partnership/